The Philippine Electricity Market Corp. (PEMC) has partnered with the UN Office for Projects and Services (UNOPS) to prepare the electricity market for the entry of energy storage systems as part of the country’s energy transition plan.
Focusing on introducing market mechanisms and enhancements in renewable and sustainable technologies, PEMC has just signed a partnership agreement with UNOPS through the Southeast Asian Energy Transition Partnership (ETP) with a goal of encouraging supply stability and diversification.
“The partnership agreement will strengthen PEMC’s governance functions and broaden its contribution to the country’s energy transition initiative, through the capacity-building and the technical assistance to be rendered by the ETP, which is to be initiated through the study about the participation in the electricity market of battery and other energy storage systems,” PEMC president Leonido Pulido III said in a statement.
ETP is a platform for governments, philanthropies, and partner countries to accelerate the energy transition in Southeast Asia.
“Our partnership is timely and aims to set up a resilient Battery Energy Storage Market Mechanism providing competitive conditions for the battery storage services in the wholesale electricity spot market and thus de-risk renewable energy investments as a part of the government’s efforts to dramatically increase variable renewable energy in the energy mix,” ETP director Sirpa Jarvenpaa said.
The partnership is in alignment with the country’s commitments in alleviating the impact of climate change.
“We believe that this partnership is our contribution in realizing the Philippines’ commitments in the Conference of Parties (COP) through concrete actions and catalyzing the institution of climate justice,” Pulido said.